Prudential Finl Stock Price, News & Analysis

Prudential Financial (NYSE:PRU) has announced a $500,000 grant to support the Stackwell investment accounts for 500 students from Historically Black Colleges and Universities (HBCUs) and Minority Serving Institutions (MSIs). This initiative, part of a multi-year partnership with Student Freedom Initiative, aims to boost financial literacy and confidence among students, addressing the racial wealth gap. Each student will receive a $1,000 grant for investment, with a focus on educational resources and community support. The program launches in Q1 2023, promoting long-term wealth-building for participants.

Prudential Financial, Inc. (NYSE: PRU) will participate in the Goldman Sachs 2022 U.S. Financial Services Conference on December 6, 2022, at 8:40 a.m. ET. The analyst-led fireside chat will feature vice chairman Robert Falzon. Interested listeners can access the live audio webcast via Prudential’s Investor Relations website, with a replay available until December 20, 2022. Prudential, a leading global financial services firm, manages over $1.3 trillion in assets as of September 30, 2022, serving clients in the U.S., Asia, Europe, and Latin America.

Prudential Financial has launched the Prudential FlexGuard® Life, an innovative indexed variable universal life product designed to provide flexible protection and growth options. Building on the success of its FlexGuard variable annuity line, which achieved over $10 billion in total sales, the new offering aims to meet evolving consumer insurance needs. FlexGuard Life features buffered index strategies for cash value accumulation, downside protection, customizable death benefits, and accelerated benefits for chronic or terminal illnesses.

Prudential Financial, Inc. (NYSE: PRU) has declared a quarterly dividend of $1.20 per share, scheduled for payment on December 15, 2022. Shareholders of record will be those holding stock as of the close of business on November 22, 2022. As of September 30, 2022, Prudential managed over $1.3 trillion in assets, emphasizing its position as a leading global financial services firm. The company focuses on expanding access to investing, insurance, and retirement security across regions, including the U.S., Asia, Europe, and Latin America.

Prudential Financial's latest Pulse survey reveals significant shifts in younger generations' attitudes towards work and financial goals. Millennials and Gen Z favor flexibility, with many engaging in gig work or relying on family for financial support. Key findings include: 33% of millennials and 46% of Gen Z have changed jobs since the pandemic. Alarmingly, 49% of millennials and 48% of Gen Z feel their salaries are inadequate. The survey highlights women's precarious financial situations, with 41% expressing heightened economic concerns. Prudential emphasizes the need for tailored financial solutions to aid these demographics.

Prudential Financial reported a net loss of $284 million ($0.78/share) for Q3 2022, a drop from $1.530 billion ($3.90/share) in Q3 2021. Adjusted operating income also decreased to $803 million ($2.13/share) from $1.487 billion. Book value per share fell to $44.15 from $160.29, while adjusted book value decreased to $102.26. Assets under management dropped to $1.350 trillion from $1.727 trillion. The company achieved $750 million in cost savings ahead of schedule and highlighted ongoing investments in growth and strategy adaptations in response to market challenges.

Prudential Financial announces key leadership changes effective January 1, 2023. Scott Sleyster, head of International Businesses, will retire after 35 years with the company. Andy Sullivan, currently leading U.S. Businesses, will take over International Businesses and PGIM, while Caroline Feeney, president and CEO of U.S. Retirement & Insurance Businesses, is promoted to oversee U.S. Businesses. These appointments aim to ensure continuity and drive Prudential's growth in investing, insurance, and retirement security.